MeadowBrook Investment Advisors LLC Sells 256 Shares of CVS Health Co. (NYSE:CVS)

MeadowBrook Investment Advisors LLC lessened its holdings in shares of CVS Health Co. (NYSE:CVS) by 1.7% during the third quarter, HoldingsChannel.com reports. The firm owned 14,611 shares of the pharmacy operator’s stock after selling 256 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in CVS Health were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Pzena Investment Management LLC increased its stake in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator’s stock worth $764,023,000 after acquiring an additional 7,382,931 shares during the period. Capital International Investors increased its position in shares of CVS Health by 12.5% in the first quarter. Capital International Investors now owns 37,917,923 shares of the pharmacy operator’s stock worth $3,024,334,000 after purchasing an additional 4,226,225 shares during the period. Capital World Investors raised its stake in CVS Health by 8.0% in the first quarter. Capital World Investors now owns 43,776,874 shares of the pharmacy operator’s stock valued at $3,491,643,000 after purchasing an additional 3,232,172 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in CVS Health by 5,864.2% during the third quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator’s stock worth $108,804,000 after buying an additional 1,701,331 shares in the last quarter. Finally, State of Michigan Retirement System increased its holdings in CVS Health by 402.5% in the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator’s stock valued at $118,455,000 after buying an additional 1,606,500 shares during the period. 80.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CVS shares. Evercore ISI increased their price target on shares of CVS Health from $62.00 to $75.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft decreased their price target on CVS Health from $64.00 to $63.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Barclays dropped their price objective on CVS Health from $75.00 to $71.00 and set an “overweight” rating for the company in a research report on Thursday, November 7th. Mizuho decreased their target price on CVS Health from $73.00 to $66.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, UBS Group increased their target price on shares of CVS Health from $60.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Nine equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

CVS Health Trading Up 0.4 %

Shares of CVS stock traded up $0.20 on Thursday, hitting $54.47. The company had a trading volume of 1,250,948 shares, compared to its average volume of 11,283,564. The stock’s 50-day moving average is $59.41 and its two-hundred day moving average is $58.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.59 and a current ratio of 0.80. The firm has a market cap of $68.55 billion, a P/E ratio of 13.77, a P/E/G ratio of 0.94 and a beta of 0.55. CVS Health Co. has a twelve month low of $52.77 and a twelve month high of $83.25.

CVS Health (NYSE:CVS) last posted its quarterly earnings data on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.01. The company had revenue of $95.43 billion during the quarter, compared to analysts’ expectations of $92.72 billion. CVS Health had a net margin of 1.36% and a return on equity of 10.72%. CVS Health’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.21 earnings per share. On average, equities research analysts anticipate that CVS Health Co. will post 5.44 earnings per share for the current fiscal year.

CVS Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were paid a $0.665 dividend. This represents a $2.66 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend was Monday, October 21st. CVS Health’s dividend payout ratio is 67.51%.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.